Hafslund has entered an agreement to increase the ownership in Hallingkraft AS from the current 39.5 % to approximately 76 %. The sellers are the municipalities of Nes and Gol. The transaction has a value of approximately NOK 13.4 million.

 

Hallingkraft AS is a retail sales company that sells electricity to end users in Norway. The company is located at Ål in Hallingdal

 

The agreement is subject to regulatory approval.

 

 

Hafslund ASA

 

Oslo, 21 June 2005

 

For further information, please contact:

 

Group Senior Vice President Markets, Tove Pettersen, +47 913 14 252 Vice President Investor Relations, Heidi Ulmo, +47 90 91 93 25